- Mobile healthcare company ResApp Health (RAP) has entered a trading halt in regard to an upcoming capital raising
- The company will remain in the halt until April 12 or when more details regarding the raise are released, whichever occurs first
- In late March, ResApp received Australian Therapeutics Goods Administration clearance for its wearable medical device
- The wearable is a clip-on unobtrusive device that allows for continuous 24-hour patient monitoring using cough audio
- The TGA clearance allows the company to progress with sales and marketing of its device
- Shares in ResApp last traded at 6.8 cents on April 7
Mobile healthcare company ResApp Health (RAP) has entered a trading regarding an upcoming capital raise.
The company will remain in the halt until April 12 or when more details regarding the raise are released, whichever occurs first.
ResApp is yet to disclose how much it intends to raise or what it will do with the funds once received.
In late March, ResApp received Australian Therapeutics Goods Administration (TGA) clearance for its wearable medical device.
The wearable is a clip-on unobtrusive device that allows for continuous 24-hour patient monitoring using cough audio.
When used in tandem with ResApp’s algorithms, it can identify over 93 per cent of coughs with less than one per cent being a false positive.
The TGA clearance allows the company to progress with sales and marketing of its device.
This news followed on from the CE Mark certification received earlier in the month.
Shares in ResApp last traded at 6.8 cents on April 7. The company has a $51.97 million market cap.